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New Gold Bull Market? Not Until This Happens

ByChris Kimble
Published 10/13/2019, 12:14 AM
Updated 07/09/2023, 06:31 AM
Gold:Swiss franc 1992-2019

After a big summer rally, Gold peaked out at $1566/oz in September. Since then, Gold prices have been consolidating between $1475 and $1550.

So what’s happening here? Enter the Swiss franc…

In today’s chart, we look at a key indicator (and correlation) for Gold. As you can see, the Swiss franc has an uncanny resemblance to Gold. Both Gold and the franc are testing heavy resistance at the same time.

Until both break out at (2), odds are low that a new Gold bull market emerges with another big rally leg higher. Looking back, it wasn’t until both Gold and the franc broke out above price resistance at each (1) that a new Gold bull market emerged.

Can it happen again? Stay tuned!

Latest comments

from astrology, it could 4k in 3 yrs
gold will hit $2500-3000 within next 2-2.5 years. You can also expect gold trading in $4000-4500 too (3-5 years from now on). There is no other universal standard besides gold. World is going to be divided in currency zones and universal standard to exchange them will be gold (not dollar).
2,500 for sure. 4k in our lifetime but not in 5 years
Just saw zerohedge picked up your article! That oughta get you some good business!
No wonder they call it Swiss-Gold! Are you suggesting CHF (another safe haven) has to weaken for XAUUSD to go up?
Chris says SF must go up/strengthen, to break the tren line along with gold; not weaken.
by the way, Chris, looks like dollar/Euro getting closer to possible top/bottom
a friend of mine showed me weekly charts of both: they are not as correlated as I originally thought; but both safe havens, I guess?. . . . also if Swiss get away from their neg interest rates, maybe franc will go up more. . . charts way back also show gold and franc bottomed together in early 2001. . . thx, Chris, u r really good!
There will never I mean never be a gold bull market. 1900 was only because of 2008 crisis such crises will never happen again. 1560 was only because of trump. he trump may never happen again.
SF is heading lower along with Euro heading to 1.04 or lower. sorry my friend
Chris, that is fantastic analysis! Thanks! (I never knew gold and SF so very correlated!) (I also agree with Mostafa that  they will break higher soon.)
trump is all talk and no tarrif
trump will cool down till 2020 elections. gold will also cool down towards 1000
gold went from 1280 to 1560 only because silly trump created confusion and chaos with his tariffs that would never happen. trump is all talk and no tariff.
Gold would stall near the $1550 level, move briefly toward the $1475 to $1500 Level as strong support. Is a new momentum base near the $1500 price level Support
Interesting analysis, but why so?
is there any possibility of the two breaking the level?
hi gold
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